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  Business   Companies  17 Oct 2018  RIL to buy majority stakes in Den Networks, Hathway Cable for Rs 5,230 cr

RIL to buy majority stakes in Den Networks, Hathway Cable for Rs 5,230 cr

PTI
Published : Oct 17, 2018, 7:32 pm IST
Updated : Oct 17, 2018, 7:32 pm IST

Also, it will make a primary investment of Rs 2,940 crore through a preferential issue for a 51.3 per cent stake in Hathway.

Reliance Industries on Wednesday said it will buy majority stakes in Den Networks Ltd and Hathway Cable and Datacom Ltd for Rs 5,230 crore.
 Reliance Industries on Wednesday said it will buy majority stakes in Den Networks Ltd and Hathway Cable and Datacom Ltd for Rs 5,230 crore.

New Delhi: Reliance Industries on Wednesday said it will buy majority stakes in Den Networks Ltd and Hathway Cable and Datacom Ltd for Rs 5,230 crore.

RIL will make a "primary investment of Rs 2,045 crore through a preferential issue under SEBI regulations and secondary purchase of Rs 245 crore from the existing promoters for a 66 per cent stake in DEN", the company said in a statement.

 

Also, it will make a primary investment of Rs 2,940 crore through a preferential issue for a 51.3 per cent stake in Hathway. RIL would also make open offers to minority shareholders of GTPL Hathway Ltd, a company jointly controlled by Hathway with 37.3 per cent stake, and Hathway Bhawani Cabletel and Datacomm Limited, a subsidiary of Hathway.

Tags: reliance industries, hathway cable, datacom ltd, sebi
Location: India, Delhi, New Delhi